Line Man’s new ride-hailing service reports 60% growth
Line Man, a Thai food-delivery platform, has reported more than 60% growth in its ride-hailing service since its launch early this year, Siwaphume Lertsansaran, senior vice-president of on-demand services, told a press conference on Tuesday.
The company's ride-hailing service Line Man Ride has shown stronger growth than the overall market, focusing on its core promise of "Affordable and Safe" transportation.
"Since receiving official approval from the Department of Land Transport in early 2024, our ride-hailing service has grown by 60%. Notably, Line Man Bike has seen exceptional growth of 390%, meeting users' needs for quick and convenient travel during rush hours. We aim to expand our coverage to all major Thai cities within two years," Siwaphume said.
He emphasised that affordability and safety remain the service's core priorities, with the company implementing a dynamic pricing strategy to manage costs effectively. This strategy allows for real-time price adjustments based on factors such as demand, supply, competition, and market conditions, he said.
While food delivery remains Line Man's primary service, Siwaphume expressed confidence that the ride-hailing segment will significantly contribute to the company's overall growth. The company plans to invest in brand-awareness campaigns to attract both new riders and new users to the platform.
According to India-based Mordor Intelligence, Thailand's ride-hailing market is valued at US$2.26 billion and is projected to reach $4.60 billion by 2029, with a compound annual growth rate (CAGR) of 9.38%.
"Line Man Ride expects double-digit growth," Siwaphume said, attributing this projection to increasing demand for convenient transportation and market expansion.
As Thailand's only domestic ride-hailing platform, Line Man Ride offers several localised features designed for Thai users. The service claims that it provides competitive pricing with regular promotional discounts, along with comprehensive safety measures including real-time trip tracking, thorough driver background checks, and insurance coverage for both drivers and passengers.
The platform also features an anonymous rating system and maintains safety certification from the Department of Land Transport.
Additional Thailand-specific features include a toll-selection feature enabling users to customise their routes based on toll preferences, chat stickers for seamless driver communication, and an upcoming QR payment system.
"Being the only Thai player in the market allows us to truly customise solutions for local users' needs," Siwaphume said.
